Harris myCFO

From Wikipedia, the free encyclopedia
Jump to: navigation, search

Harris myCFO is a wealth management unit of BMO Harris Bank serving high-net-worth individuals and families.[1] In 2002, Harris acquired certain assets of myCFO, Inc., originally founded by James H. Clark, in a $30 million deal.[2] Harris myCFO provides a variety of services including investment advisory and family office services. Harris myCFO managed over $18 billion in assets in 2011 and Forbes ranked the company seventh on a list of top fee-only investment advisors.[3]

Services[edit]

Harris myCFO[edit]

Harris myCFO is a brand used by Harris myCFO Inc. offering integrated wealth management with independent investment advisory services and the comprehensive capabilities of a multi-family office. These services include investment advisory, tax planning, financial reporting and expense management, estate planning and trust services, risk management and insurance advisory, philanthropic planning, family education, capital advisory, and custom banking.[4]

The president of Harris myCFO Inc. is Joe Calabrese. Calabrese has been leading Harris myCFO since 2002 and has over 25 years of financial service and wealth management experience.[5]

Harris myCFO Investment Advisory Services LLC[edit]

Harris myCFO Investment Advisory Services LLC, is an SEC-registered investment advisor and certain divisions of Harris N.A. are national banks with trust powers. Harris myCFO Investment Advisory Services, LLC works with affluent clients by integrating their investment planning and financial services.[4]

Craig Rawlins is the president of Harris myCFO Investment Advisory Services LLC. Harris announced the hiring of Rawlins in December 2009; he previously worked as director of client services at Russell Investment Group and held positions at Ernst & Young and Gresham Partners.[6]

Harris myCFO, Inc.[edit]

Harris myCFO, Inc. provides family office services. Family office services include financial planning and coordination, wealth transfer planning, tax planning, risk management and insurance, philanthropic planning, expense management, bill payment, family education, estate and trust services, liquidity strategies, and comprehensive financial reporting.[4]

John Benevides is a president of Harris myCFO Inc. overseeing Family Office Services for the company. Benevides' appointment was announced in October 2010; prior to his appointment at Harris myCFO, he was co-owner and President of Family Office Exchange (FOX).[7]

Corporate leadership[edit]

Office of the President[edit]

Joe Calabrese

  • Joe Calabrese- President, Harris myCFO, Inc.[8]

Craig Rawlins

  • Craig Rawlins- President, Harris myCFO Investment Advisory Services, LLC [9]

John Benevides

  • John Benevides- President, Harris myCFO, Inc. Family Office Services [9]

Operations[edit]

  • James Hering- Chief Operating Officer, Harris myCFO, Investment Advisory Services, LLC [8]

Investment advisory services[edit]

  • Lorraine Monick- Managing Director, Harris myCFO Investment Advisory Services, LLC [8]

Tax planning[edit]

  • Harvey Armstrong- Executive Managing Director, Harris myCFO, Inc.[10]
  • Debra Doran- Managing Director, Harris myCFO, Inc.[8]
  • Kristine Givens- Managing Director, Harris myCFO, Inc.[8]
  • Ron Gong- Managing Director, Harris myCFO, Inc.[8]

Estate planning and trust services[edit]

  • Jim Cody- Director, Estate Planning & Trust Services, Harris myCFO, Inc.[8]
  • David Sawyer- Managing Director, BMO Harris Bank, N.A.[8]

Philanthropy[edit]

  • Claudia Sangster- Director, Philanthropy, Estate Planning & Trust Services [8]

Risk management and insurance advisory[edit]

  • Zan Sloan- Principal, Harris myCFO, Inc.[8]

Capital advisory services and custom banking[edit]

  • Jim Minich- Managing Director, BMO Harris Bank, N.A.[11]

Awards and recognitions[edit]

Harris myCFO has been recognized for its accomplishments in the corporate environment.

  • Ranked 7th on Forbes, "Top 50 Financial Advisors" list (2011)[12]
  • Ranked 9th on Bloomberg Markets’ “Top 50 Family Offices” list (2011)[3]
  • Ranked 5th on Investment News’ “Top RIAs” list (2010)[13]
  • Ranked 3rd on Forbes "Top 50 Fee-Only Advisers" list (2008)[14]
  • James R. Cody named amongst "Top Attorneys in Northern California" by San Francisco Magazine (2007)[15]
  • James R. Cody named amongst "Top Northern California Lawyers" by San Francisco Magazine (2006)[16]

Locations[edit]

[1]

Events, organizations, and conference sponsorships[edit]

  • Goodman Theater Sponsor [17]
  • Seattle Repertory Season Sponsor-2011 [18]
  • Family Office Forum Sponsor- 2011 [19]
  • Seattle 2.0 Awards Sponsor- 2011[20]
  • Family Business Magazine’s ‘Transitions’ Conference Sponsor- 2011[21]
  • Porchlight Counseling Services ‘Havana Nights’ Benefit Sponsor- 2011 [22]
  • Healthy Schools Campaign Partner- 2011[23]
  • Zino Society Sponsor- 2011[24]
  • Los Angeles Social Venture Partners, Social Innovations Fast Pitch Conference Sponsor- 2011, 2009, 2008[25]
  • Foster School of Business ‘Defining Leadership’ Conference Sponsor- 2010[26]
  • PONCHO Art Education Auction- 2009[27]
  • Private Family Offices West Coast Forum Sponsor- 2007 [28]
  • Private Family Offices East Coast Forum Sponsor- 2007 [29]

Notable announcements[edit]

  • September, 2011- Harris myCFO, Inc. Appoints Francine Lee as Director [30]
  • April, 2011- Harris myCFO® relocates office to Embarcadero Place in Palo Alto, California [31]
  • February, 2011- Harris myCFO,Investment Advisory Services, LLC reaches rarefied RIA territory [32]
  • February, 2011- Harris myCFO, Inc. Hires Thomas Meilinger in National Sales Role [33]
  • November, 2010- Harris myCFO Investment Advisory Services, LLC appoints Lorraine Monick as Managing Director, Investment Advisory Services [21]
  • September, 2010- Harris myCFO, Inc appoints John Benevides to executive leadership position [34]
  • September, 2010- Harris myCFO Investment Advisory Services, LLC appoints Debbie DiLeonardi as Director and Senior Investment Advisor [35]
  • May, 2010- Harris myCFO Investment Advisory Services, LLC hires Mark W. Castelin as Director and Senior Investment Advisor [36]
  • November, 2009- Craig Rawlins becomes President, Harris myCFO Investment Advisory Services, LLC [37]
  • February, 2009- Harris myCFO, Inc. expands tax planning services by acquiring Pierce, Givens and Associates, LLC [38]
  • October, 2008- Harris myCFO Investment Advisory Services, LLC announces the publication of a white paper outlining a new dual class asset allocation strategy [39]

Criticism[edit]

In 2002 myCFO was implicated in a federal investigation involving questionable tax shelters.[40][41][42] In July 2005, the American Arbitration Association ruled against myCFO and its partners for its involvement.[43] On February 13, 2008, a federal trial court delivered a criminal conviction on Graham Taylor, a tax attorney associated with myCFO; Taylor had pled guilty on January 24, 2008, to conspiracy and aiding in the filing of a false tax return.[44] Taylor is formerly of the LeBoeuf law firm who was used by myCFO selling tax shelter products. The tax accountants and attorneys, including Taylor, convicted in 2008, had been indicted in November 2005 for conspiring to defraud the United States and to commit mail and wire fraud, including tax evasion and assisting in the filing of false tax returns.[45]

References[edit]

  1. ^ a b "About Us: Our Approach". Retrieved 2011-10-25. 
  2. ^ Festa, Paul (3 October 2002). "Netscape founder sells start-up myCFO". CNET. Retrieved 2011-11-29. 
  3. ^ a b Effinger, Anthony (8 August 2011). "HSBC Tops Family Office List as Money Firms Manage Rises 17". Bloomberg.com. Retrieved 2011-11-29. 
  4. ^ a b c "Harris myCFO Company Profile". Retrieved 2011-11-29. 
  5. ^ "Joe Calabrese". Retrieved 2011-11-29. 
  6. ^ "Craig Rawlins". Retrieved 2011-11-29. 
  7. ^ "Harris myCFO Appoints John Benevides to Executive Leadership Position". Retrieved 2011-11-29. 
  8. ^ a b c d e f g h i j "Joe Calabrese". Retrieved 2011-12-05. 
  9. ^ a b "Craig Rawlins Joins as President Harris myCFO Investment Advisory Services IAS". Retrieved 2011-12-05. 
  10. ^ "Businessweek Executive Profile: Harvey L. Armstrong". Retrieved 2011-12-05. 
  11. ^ "Harris myCFO® Appoints Jim Minich Managing Director, Banking". Retrieved 2011-12-05. 
  12. ^ "Harris MyCFO Investment Advisory Services, LLC Ranks Seventh On Forbes' Top 50 Financial Advisors For 2011". Retrieved 2011-12-13. 
  13. ^ "Harris myCFO Investment Advisory Services, LLC Ranks Fifth In Investment News Top RIA Listings". Retrieved 2011-12-13. 
  14. ^ "Top 50 Fee-Only Advisers #3 Harris MyCFO". Forbes. 2008-10-06. Retrieved 2011-12-13. 
  15. ^ "2007 Top Attorneys in Northern California". San Francisco Magazine. 2007. 
  16. ^ "2006 Top Attorneys in Northern California". San Francisco Magazine. 2006. 
  17. ^ "Institutional Donors". Retrieved 2011-12-30. 
  18. ^ "Corporate Sponsors". Retrieved 2011-12-30. 
  19. ^ "Conference Sponsors". Retrieved 2011-12-30. 
  20. ^ "Awards Sponsorship". Retrieved 2011-12-30. 
  21. ^ a b "Conference Sponsors". Retrieved 2011-12-30. 
  22. ^ "Porchlight News". Retrieved 2011-12-30. 
  23. ^ "Cooking Up Change 2009 Sponsors". Retrieved 2011-12-30. 
  24. ^ "Sponsors: Harris Private Bank Harris myCFO". Retrieved 2011-12-30. 
  25. ^ "Sponsors". Retrieved 2011-12-30. 
  26. ^ "Defining Leadership". Retrieved 2011-12-30. 
  27. ^ "2009 Art Auction Supporters". Retrieved 2011-12-30. 
  28. ^ "ALM Conference Sponsors and Exhibitors". Retrieved 2011-12-30. 
  29. ^ "Alternative Investments for Private Family Offices East Coast". Retrieved 2011-12-30. 
  30. ^ "Harris myCFO® Appoints Francine Lee as Director". Retrieved 2011-12-30. 
  31. ^ "Harris myCFO® to Relocate Office to Embarcadero Place in Palo Alto, California". Reuters. 2011-04-30. Retrieved 2011-12-30. 
  32. ^ "Harris myCFO, Investment Advisory Services, LLC reaches rarefied RIA territory". Retrieved 2011-12-30. 
  33. ^ "Harris myCFO, Inc. Hires Thomas Meilinger in National Sales Role". Retrieved 2011-12-30. 
  34. ^ "Harris myCFO, Inc appoints John Benevides to executive leadership position". Retrieved 2011-12-30. 
  35. ^ "Harris myCFO Investment Advisory Services, LLC appoints Debbie DiLeonardi as Director and Senior Investment Advisor". Retrieved 2011-12-30. 
  36. ^ "Harris myCFO Investment Advisory Services, LLC hires Mark W. Castelin as Director and Senior Investment Advisor". Retrieved 2011-12-30. 
  37. ^ "Craig Rawlins becomes President, Harris myCFO Investment Advisory Services, LLC". Retrieved 2011-12-30. 
  38. ^ "Harris myCFO™ Expands Tax Planning Expertise". Retrieved 2011-12-30. 
  39. ^ "Harris myCFO, Inc. White Paper Outlines New Asset Allocation Model for High Net Worth Portfolios". Retrieved 2011-12-30. 
  40. ^ Browning, Lynnley (11 July 2006). "Focus Moves To One Shelter In Tax Inquiry". The New York Times. Retrieved 2008-04-08. 
  41. ^ Waldman, Peter (March 6, 2007). "2007 Wall Street Journal Front Cover Investigative Report on myCFO, with source reference links". Wall Street Journal. 
  42. ^ "2007 Reprint of Wall Street Journal Article about myCFO". 
  43. ^ "2005 American Arbitration Association ruling against myCFO". Wall Street Journal. 
  44. ^ "2008 DOJ Release regarding myCFO-associated tax attorney Graham Taylor who plead guilty and was then convicted of conspiracy and aiding filing a false tax return". 
  45. ^ "2008 DOJ Criminal Conviction of multiple Tax Accountants and Tax Attorneys of conspiracy and aiding filing false tax returns". 

External links[edit]